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utility

Authored by Sonika Parmar

Social Studies

11th Grade - University

Used 245+ times

utility
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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

when we add up utility derived from consumption of all the units of the consumption, we get :

total utility

initial utility

marginal utility

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

marginal utility in terms of money is equal to:

marg⁡inal utility in utilsmarg⁡inla utility of one rupee\frac{m\arg inal\ utility\ in\ utils}{m\arg inla\ utility\ of\ one\ rupee}

marg⁡inal utility of one rupeemarg⁡inal utility in utils\frac{m\arg inal\ utility\ of\ one\ rupee}{m\arg inal\ utility\ in\ utils}

marg⁡inal utility in utilsprice of the commodity\frac{m\arg inal\ utility\ in\ utils}{price\ of\ the\ commodity}

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

total utility is ___________ at the point of satiety.

minimum

maximum

zero

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

marginal utility (MU) of nth unit is calculated as:

MUn= TUn - TUn-1

MUn= TUn + TUn-1

MUn= TUn - TUn+1

MUn= TUn -+ TUn+1

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

How TU is derived from MU?

TU = ∑MU\sum_{ }^{ }MU  

TU=   U1+U2+U3.......... Un\ U_1+U_2+U_{3_{ }}..........\ U_n  

TU=  MUn+MUn−1MU_n+MU_{n_{ }-1}  

TU= MUn−MUn  −1MU_n-MU_n\ \ _{-1}  

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

what happens to MU when TU is maximum?

MU is negative

MU is zero

MU is decreasing

MU is increasing

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

In case of cardinal utility approach, utility is measured in :

Rupees

ranks

utils

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